Economic systems differ according to which two main characteristics? A. Who owns the factors of production, and the methods used

Question

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Economic systems differ according to which two main characteristics? A. Who owns the factors of production, and the methods used

to coordinate economic activity. B. The technology used in production, and the quantity and quality of natural resources. C. How goods are produced, and who gets them. D. The political system in place, and the degree of scarcity facing the economy

Social Studies

1 answer:

Likurg_2 [28] · Answer 1 · 2022-07-24T21:25:03+03:00

Answer:

A. Who owns the factors of production, and the methods used to coordinate economic activity.

Explanation:

Economic systems differ according to two main characteristics which are; who owns the factors of production, and the methods used to coordinate economic activity. There is the command economy in which the factors of production and methods used to coordinate economic activities are controlled by government and there is the market system in which resources are controlled by private individuals.